SLED leaders are looking for creative financial models and extended payment options to fund their IT projects as well as license, maintenance and service renewals. This requires a partner that knows the government acquisition process inside and out. One with a track record developing creative financing solutions to help agencies do more with less.
As you consider the best way to finance your IT projects - and the best partner - keep the following strategies in mind:
Financing your IT project becomes more feasible the earlier you bring a solutions partner into the process. From our perspective, once we know what SLED organizations and manufacturers are trying to accomplish, ePlus can develop a solution to meet those objectives. Early engagement is even more critical if your project is tied to a complex contract, as it affords time to navigate expected and unforeseen hurdles. Finally, early engagement enables you to secure buy-in from all stakeholder audiences and reach the project goal line within the targeted time frame.
Flexibility is the name of the game when it comes to financing a government project. Flexibility requires creativity, and only a solutions partner with the industry experience can identify financing structures that otherwise would be overlooked.
The ability to leverage multiple budget years can accelerate project deployment and potentially offer a better return on taxpayer dollars. Are there opportunities to identify areas to save money on enterprise license agreements or reduce tax costs associated with financing? Your solutions partner should be able to identify these financing options and present them as part of the broader strategy. Finally, your solutions partner can analyze the pros and cons of adopting an as-a-Service model for the project, which may still require upfront costs but then transitions to set costs for an ongoing subscription.
Government contracts and contract vehicles have unique procurement guidelines, and cookie-cutter financing approaches are often not enough. It is important to structure financing transactions that fit within procurement guidelines, especially as it relates to containing the proper appropriations language.
Municipalities, hospitals, universities and other SLED organizations have a shared imperative: drive down costs and deliver higher levels of service. Smart contract financing is a tool for streamlining the acquisition process and a path to saving several percentage points on contract costs.
What does that look like in practice? Here are three real-world examples of how ePlus has helped SLED organizations
The ePlus government financing approach is simple: gain an understanding of the technology needs for a SLED agency and the problems they want to solve, determine the most robust technology solution to meet those needs, and do it all within existing budget constraints.
Our creative extended payment and lease plans can help you leverage current and future budgets to align the cost of a program or project with the revenue they consume. We can also work to structure plans that take advantage of operating or capital allocations for increased budget flexibility.
All organizations are not created equal. Different sizes, structures, operations and budgets lead to different technology requirements. But the one thing almost all do have in common is the need to accelerate the amount of time it takes to realize value out of an investment. We are experts in how technology is consumed and offer custom payment options that take advantage of today’s converged and hybrid deployments. ePlus enables payments aligned with your use of technology assets, including consumption-based programs and software payment programs that allow you to redeploy cash resources within your business.
If you are a SLED agency seeking to do more with less, or a manufacturer selling to agencies that need to help your customers finance IT projects, contact ePlus today.